November 12

What’s Ahead For Mortgage Rates This Week – November 12th, 2024

0  comments

Big inflation reports for the coming week with both CPI and PPI on the schedule. We should expect the data to remain within expectations given the latest reports from both the PCE Index and GDP estimates. The Federal Reserve has still remained hawkish and the last rate decision the expectation is the current rates should maintain. However with the inflation being very close to the Federal Reserve’s target inflation rate and the expected “soft landing” on the horizon. The outlook is optimistic for another round of rate cuts in future.

Federal Reserve Rate Decision

In the face of slowing inflation and strong consumer spending, the Federal Reserve announced that it will keep the interest rate steady, holding the benchmark borrowing rate to a range of 5.2%5 to 5.5%.

Consumer Credit

The numbers: The amount of borrowing by U.S. consumers in September rose a scant 1.4%, but the increase was tied mostly to student loans as Americans scale back on the use of credit cards. Consumer credit increased by $6.0 billion in September, Federal Reserve data showed. Economists had expected a $13 billion increase, according to a Wall Street Journal forecast.

Primary Mortgage Market Survey Index

?15-Yr FRM rates seeing a week-to-week change of 0.01% with the current rate at 6.00%.
?30-Yr FRM rates seeing a week-to-week change of 0.07% with the current rate at 6.79%

MND Rate Index

?30-Yr FHA rates week to week seeing a -0.32% change for this week. Current rates at 6.30%
?30-Yr VA  rates week to week seeing a -0.32% change for this week. Current rates at 6.32%

Jobless Claims

Initial Claims were reported to be 221,000 compared to the expected claims of 220,000. The prior week was 218,000.

What’s Ahead

Consumer Price Index and Producer Price Index inflation ahead. There are no other influential reports on the schedule.

__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45}}},"gradients":[]},"original":{"colors":{"62516":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45}}},"gradients":[]}}]}__CONFIG_colors_palette__
[thrive_prev_column]
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"49806":{"name":"Main Accent","parent":-1},"3a0f6":{"name":"Accent Light","parent":"49806","lock":{"saturation":1,"lightness":1}}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"49806":{"val":"var(--tcb-skin-color-0)"},"3a0f6":{"val":"rgb(238, 242, 247)","hsl_parent_dependency":{"h":209,"l":0.95,"s":0.36}}},"gradients":[]},"original":{"colors":{"49806":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45,"a":1}},"3a0f6":{"val":"rgb(240, 244, 248)","hsl_parent_dependency":{"h":209,"s":0.36,"l":0.95,"a":1}}},"gradients":[]}}]}__CONFIG_colors_palette__
Previous
[/thrive_prev_column] [thrive_next_column]
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"49806":{"name":"Main Accent","parent":-1},"3a0f6":{"name":"Accent Light","parent":"49806","lock":{"saturation":1,"lightness":1}}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"49806":{"val":"var(--tcb-skin-color-0)"},"3a0f6":{"val":"rgb(238, 242, 247)","hsl_parent_dependency":{"h":209,"l":0.95,"s":0.36}}},"gradients":[]},"original":{"colors":{"49806":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45,"a":1}},"3a0f6":{"val":"rgb(240, 244, 248)","hsl_parent_dependency":{"h":209,"s":0.36,"l":0.95,"a":1}}},"gradients":[]}}]}__CONFIG_colors_palette__
Next
[/thrive_next_column]

Tags

Financial Report, Jobless Claims, Mortgage Rates


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"c84a5":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"c84a5":{"val":"var(--tcb-skin-color-4)","hsl":{"h":206,"s":0.27,"l":0.01,"a":1}}},"gradients":[]},"original":{"colors":{"c84a5":{"val":"rgb(47, 138, 229)","hsl":{"h":210,"s":0.77,"l":0.54,"a":1}}},"gradients":[]}}]}__CONFIG_colors_palette__
Name*
Email*
Message
0 of 350
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"34f05":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"34f05":{"val":"var(--tcb-local-color-bec10)"}},"gradients":[]},"original":{"colors":{"34f05":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45}}},"gradients":[]}}]}__CONFIG_colors_palette__
Send Message
Skip to content